Should you put more than 5% in TSP?

The Thrift Savings Plan (TSP) is a vital part of the federal retirement system. FERS employees MUST contribute 5% to get their matching, but is it the best place for the rest of your contributions. You may find your federal retirement to be more flexible by looking at other accounts once you contribute your 5%.

[@noway5976]

Good information. Keep it up! 😀

[@Chingastender]

excellent video

[@FederalRetirementPlanning]

Thank u Jose

[@wm1329]

Very informative! Thank you!

[@kandycashe]

Hello Brad thank you for sharing. Question is there any point in putting over 5% in the TSP or should I focus on increasing my Roth acct. yearly since it is tax free when withdrawing?

[@FederalRetirementPlanning]

That's going to depend on what you want, but no advantage to doing TSP after the 5% IMO.

[@kandycashe]

@@FederalRetirementPlanning Thank you Brad for your prompt response. After viewing your video my consensus was the same. Happy blessed Holidays!

[@morebaloney1539]

401Ks are protected unlike after tax accounts. If you want to qualify for college aid, brokerage accounts are on the table. Unfortunately there are gotchas around every corner.

[@FederalRetirementPlanning]

They are, but so are IRAs and Roth IRAs in most states. Financial aid for college is a completely different ball game!

[@jonathangatto]

I would switch to traditional for the years my kids are in college so I won't pay so much for their school and I'll switch back to Roth

[@drhelios132]

Roth TSP is a good option for the Roth side of things when it comes to tax treatments. Maybe both a Roth ira and Tsp would be great at the same time?

[@FederalRetirementPlanning]

nothing wrong with using both

[@kurpal8904]

How about TSP ROTH

[@alrocky]

@@kurpal8904 What's your current Federal Tax Bracket and do you anticipate reaching a higher FTB in the future? < $45k = 12% FTB < $95k = 22% FTB < $182k = 24% FTB < $231k = 32% FTB

[@ito1038]

So does the TSP not offer a Roth option?

[@FederalRetirementPlanning]

Yes it does

[@jamaineanderson2337]

Does the matching go for the traditional or Roth?

[@FederalRetirementPlanning]

Matching always goes to traditional

[@achisq]

@@FederalRetirementPlanning If matching goes to traditional, but you have a Roth TSP will the employer matching be taxed separately?

[@FederalRetirementPlanning]

@@achisq matching goes to traditional so it's taxed when you withdraw funds

[@alrocky]

@ 3:20 $204,000 for Married Filing Jointly, *$129,000* for Single HSA / Flexible Spending Account

[@FederalRetirementPlanning]

LOVE HSAs

[@achisq]

@@FederalRetirementPlanning The HSA's I see you can only roll over $610 and I have a young family not sure I will do HDHP. Are there tax benefits for the Dependent FSA if you're doing a Traditional Roth?

[@FederalRetirementPlanning]

@@achisq FSAs are completely independent of the TSP so benefits don't change if you do one, the other or both

[@achisq]

@@FederalRetirementPlanning Thank you for the response.

[@achisq]

Thank you for the response.